Disruptive Innovation in Journalism, and the Future of Media in a Tech-Driven World with David Skok of The Logic

In this episode, David Skok, founder and CEO of The Logic, discusses his journey from traditional journalism to leading a digital-first news outlet. He reflects on his time at The Boston Globe, where he helped the publication transition to a digital subscription model. This experience laid the foundation for his decision to launch The Logic, focusing on Canada's innovation economy and providing high-quality, in-depth reporting.

David explains how Clayton Christensen’s theory of disruptive innovation influenced his approach to digital media. He saw an opportunity to address gaps in Canadian tech and business coverage, and launched The Logic in 2018. He highlights the challenges of building a digital publication in a space dominated by legacy media and how his publication has carved out its niche by focusing on critical, analytical journalism.

The discussion also covers the impact of Bill C-18 on the media landscape in Canada, with David offering insights into how it aims to level the playing field between big tech platforms and smaller news organizations. He also touches on the role of The Logic Summit, an annual event that brings together leaders in tech and business, as part of his broader mission to foster a stronger innovation ecosystem in Canada.

And John Ruffolo of Maverix Private Equity joins Matt Cohen to discuss the latest tech and venture capital news.

About David Skok:

David Skok is the founder and CEO of The Logic, a business news publication focused on Canada’s innovation economy, with five bureaus across the country. Backed by the Financial Times, The Logic has become a prominent source of in-depth business journalism under his leadership.

With over 25 years of experience, David previously held senior roles at The Toronto Star and The Boston Globe, where he led digital strategy and helped grow BostonGlobe.com’s digital subscriptions by 40%. He also co-created Globalnews.ca, one of Canada’s leading digital news platforms.

David holds a Nieman Fellowship from Harvard University and a Bachelor’s degree in journalism from Ryerson University. He also serves on the board of the Online News Association and advisory boards for several journalism institutions.

In this episode, we discuss:

News Rundown with John Ruffolo:

* (01:31) Elon Musk’s epic week

* (02:00) Discussion on the rise of reusable rocket systems and the implications for space exploration

* (03:26) Information Venture Partners (IVP), a Toronto-based venture capital firm, decides not to raise its fourth venture fund, citing market conditions and personal circumstances

* (05:00) The trend of venture funds consolidating and shifting towards more niche or special purpose vehicle (SPV) investments is explored

* (09:00) Geoffrey Hinton, known as the "AI godfather," wins the 2024 Nobel Prize in Physics for his contributions to AI

* (12:00) Shopify President Harley Finkelstein's controversial comments about the lack of ambition in the Canadian tech sector, and the push for more risk-taking in AI development

* (14:50) John Ruffolo responds, emphasizing the need for better access to capital and support for Canadian entrepreneurs, rather than a lack of ambition being the primary issue

* (19:00) Matt and John discuss the large investments being made in U.S. data center developments and AI infrastructure, noting the contrast with Canada’s lack of similar projects

* (23:00) A story about Anguilla’s earnings from the ".ai" domain surge, and how it now accounts for 20% of the island’s government revenue

Interview with David Skok:

* (24:53) David Skok discusses his early years in journalism and how his experiences shaped his career

* (27:21) His experiences at The Boston Globe, leading its transition to a subscription-based model and the lessons learned from that time

* (31:00) The evolution of digital content consumption and how consumers’ preferences for news have changed

* (33:36) Clayton Christensen’s disruptive innovation theory on David’s decision to start The Logic, and his approach to navigating the shifting media landscape.

* (41:55) The founding of The Logic, initial challenges, and the importance of building a subscription-based media outlet

* (45:00) The competitive nature of the Canadian media landscape and the challenges of securing talent and resources for a startup media company

* (49:13) David explains The Logic Summit, how it serves as a platform for bringing together Canada’s innovation and business leaders, and its growing significance

* (51:58) The implications of Bill C-18 and how it affects relationships between media outlets and tech platforms like Google and Meta

* [56:43] The rise of generative AI, the challenges of copyright for news organizations, and the impact on journalistic integrity

* [59:00] David outlines The Logic’s approach to using AI and how they manage its integration with journalistic standards.

Fast Favorites:

* Favorite podcast: Pivot by Kara Swisher and Scott Galloway

* Favorite newsletter or blog: Stratechery by Ben Thompson

* Favorite tech gadget: His iPhone

* Favorite new trend: Generative AI

* Favorite book: The Innovator’s Dilemma by Clayton Christensen

* Favorite CEO to watch: Marc Benioff from Salesforce

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